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Ongoing Rate-Hike Insurance Buying

US EURODLR OPTIONS
  • Over 142,000 Blue Sep 98.00 puts bought on day from 6.0-6.5, mostly the latter w/120k.
  • Blue Sep, 3Y midcurve options uses Sep'24 as it's underlying but expires at the same time as the lead quarterly option (September 13) as opposed to the Long Blue Sep options that expire in 2024. Put buyer is looking for the Sep'24 futures to price in an additional 50bps in rate hikes from around 150bps at the moment w/EDU4 at 98.545 at the moment.
  • Additional Blue Sep put trades in the pit:
  • +70,000 Blue Sep 77/80/82 put flys, 2.25
  • +20,000 Blue Sep 80/82 3x2 put spds, 8.0

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